World rolling majors see more consolidation, target Asia

摘要

San Diego-Newly created aluminum processor Aleris International will get through its integration phase and turn quickly toward possible acquisitions, as restructuring in the global rolling industry is likely to continue, the heads of two rolled products producers agreed. "We're going to be aggressive and focused on acquisition opportunities. There are going to be opportunities to grow," said Steven Demetriou, president and CEO of Aleris. "It is going to be a transforming objective. We want to be able to have double-digit return on capital." The world rolling industry has seen consolidation and restructuring that is good for the industry, agreed Demetriou and Tom Brackmann, president of Nichols Aluminum, both speaking last week at the Platts Aluminum Symposium in San Diego, California. "The Novelis spinoff [from Alcan] is excellent for the industry in that it will force them to justify their [results independently]," rather than being carried by Alcan, Demetriou said.